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Commenting on the announcement, Mr. McComb said: “I am very pleased with today’s announcement. Paul’s experience running and building lifestyle brands is a perfect match for the CEO role at Juicy Couture. His multi channel background, his passion for digital marketing and sales, and his experience in leading a creatively driven business are just what we were looking for. He is an outstanding leader and collaborator.””The Juicy Couture brand has such a promising future,” said Mr. Blum.”I’ve watched the brand change in recent seasons, and I believe it has the ability to scale globally, and throughmultiple channels, to meaningful heights. I am passionate about its digital presence, its capability to expand in accessories, and the relatively unharnessed global equity. I am very excited to join this team.”Mr. Blum spent 15 years at Kenneth Cole Productions where he held positions of increasing responsibility, holding the position of President and COO when he left in 2005 to become the Chief Executive Officer of DavidYurman,the finedesignerjewelry business. Mr. Blum rejoined Kenneth Cole Productions as Chief Executive Officer in 2011 and joins Juicy Couture from there.”We’ve come a long way in the past two years in reinvigorating Juicy, but we have more to accomplish,” said LeAnn Nealz, President and Chief Creative Officer of Juicy Couture. “We look forward to welcoming Paul and moving forward with our turnaround of the business.” Ms. Nealz will report directly to Mr. Blum. designs and markets a portfolio of retail based, premium, global lifestyle brands including Juicy Couture, kate spade, and Lucky Brand. In addition, the Adelington Design Group, a private brand jewelry design and development group, markets brands through department stores and serves JCPenneyvia exclusive supplier agreements for the Liz Claiborne and Monet jewelry lines and Kohl’s via an exclusive supplier agreement for Dana Buchman jewelry. The Company also has licenses for the Liz Claiborne New York brand, available at QVC andLizwear, which is distributed through the club store channel. Fifth Pacific Companies, Inc. maintains an 18.75% stake in Mexx, a European and Canadian apparel and accessories retail based brand.Forward Looking StatementsStatements contained herein that relate to the future performance, financial condition, liquidity or business of Fifth Pacific Companies, Inc. or any of its businesses, includingJuicy Couture (collectively, the “Company”) or any future event or action are forward looking statements under the Private Securities Litigation Reform Act of 1995. Such statements are indicated by words or phrases such as “intend,” “anticipate,” “plan,” “estimate,” “target,” “aim,” “forecast,” “project,” “expect,” “believe,” “we are optimistic that we can,” “current visibility indicates that we forecast,” “contemplation” or “currently envisions” and similar phrases. Such statements are based on current expectations only, are not guarantees of future performance, and are subject to certain risks, uncertainties and assumptions. The Company may change its intentions, belief or expectations at any time and without notice, based upon any change in the Company’s assumptions or otherwise. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. In addition, some risks and uncertainties involve factors beyond the Company’s control. Penney Corporation, Inc. on October 25, 2012, including in the sections entitled “Item 1A Risk Factors” and “Statement on Forward Looking Statements.” The Company undertakes no obligation to publicly update or revise any forward looking statement, whether as a result of new information, future events or otherwise.Investor Relations Contact: Robert J. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.﻿PDE retail team has its Eye on the ball

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